PYX Resources: Achieving volume and diversification milestones. Watch the video here.
"Then tell that to the CEO who states clearly it is 'simple'"
Lucan has a background in Finance not drilling Tygra - he's a nice enough bloke but really - no directional well is simple. It's not a "liffe and dath" operation but its easy to get wrong.
For example IF you go horizontal at the wrong place you can finish drilling cheerfully ahead in the overlying rocks wondering where the target formation is - and its by the time you turn the well down (not easy) you are way away from the actual top/target and the well is no longer horizontal so you then have to bend the well again when you hit the pay - and chances are you overshoot and then have to bend the well UP and then ....................
Listen to Push - he knows what he is talking about
the problem here is that we're just drifting - absolutely no sense of a forward plan
Push I agree its at least a week , maybe 2 before they are near to completion
On "it is into known geology, within the known field with numerous wells already drilled to verify each time," remember Grey panther's post a while back where he'd looked at the data it seems and reckoned it was very hard to see the reservoir on seismic - which was why so many of the previous sidetracks had failed. there are a lot of wells but its clear it isn't well imaged. I'd guess that if it comes in according to prognosis they'll run a minimum set of logs, but if its either a lot better or a lot worse then they may need more information.
Push - I agree that's possible but there are risks in running complex tools as LWD - not least the cost if you lose them. I seem to remember that one of the smaller companies onshore lost a set once and didn't have them insured which cost a bunch of people their jobs
Depends how confidant they are that they don't need a full suite of logs to determine the reservoir parameters. Small oilers tend to be be more careful with the cash than larger outfits in bigger fields.
"Does it concern you that we are now at Thursday and no news has of yet."
Drilling and completing horizontal wells is an art and there are many things that can slow down the operation as they try and optimise the final location. then they have to run logs on the drill pipe etc etc It almost always drifts to the right time-wise. I wouldn't fret if they were a week late at this stage - its important to get it right
"What's with this Gideon comment? Who or what were they."
Gideons was another masterly disguise of Adrian aka Fool on the Hill/Davethedrill/Scarlet Vixen/sparrowhawk and a thousand other idiot ID's that get banned by the mods every Monday morning.
Swings from ramping to deramping depending in his current buy/sell.
We know who he is and where he lives because he made the idiot error of posting them himself on UKOG a while back.
Famously posted a picture of himself arm in arm with Steve Sanderson of UKOG on his twitter feed
Bcalm has an interesting history - concentrates on one stock at a time and ramps the hell out of it with one - two short liners as he/she does on here - then disappears. look at CINE and BAron Oil for example
reminds me of the student paid crowd we used to suffer from here years ago
Extension of South Falkland Basin Petroleum Licences
Rockhopper Exploration plc (AIM: RKH), the oil and gas company with key interests in the North Falkland Basin, is pleased to announce that, following discussions with the Falkland Islands Government ("FIG"), FIG has agreed to extend each of the Company's South Falkland Basin Production Licences, in which the Company holds a 100% interest, until 3 December 2024. The Licences were previously due to expire on 3 December 2022. There are no additional licence commitments.
Samuel Moody, Chief Executive Officer, commented:
"The Company is grateful to the Falkland Islands Government for the extension of its South Falkland Basin licence interests. Whilst our primary focus is on working with Navitas to bring the Sea Lion development in the North Falkland Basin to fruition, this extension will enable us to progress our understanding of these highly prospective licences in the south - in particular, the PL011 licence which adjoins the Borders & Southern Darwin discovery - which offer the opportunity for future regional development in the Falklands."
"There is nothing to prevent one shareholder holding more than 30% of shares"
They have to get an exemption for that - and have a very very good reason - that rule is there to protect the shareholders not HUR, not CA